According to CoinDesk, SHIB investors who invested $3,400 in the meme currency in August of last year have become crypto millionaires thanks to the asset’s year-over-year rise 94,278,239.8%. In August of last year, buying Shiba Inu (SHIB) coins and holding them until Thursday resulted in a whopping $1.55 billion gain in value, owing to the buyer’s foresight.
The unidentified buyer has purchased SHIB 44 times since August 2020, with the largest transaction being $3,200. SHIB is worth $5.63 billion, with the largest purchase being $3,200, with total ownership of 70,200,003,107,594.
The investment made and its current value
According to a user’s tweet on the wallet’s address, he asked if the SHIB market is “liquid enough to absorb $5.7 billion if this wallet sells?” According to Etherscan, the unidentified SHIB owner bought the dog-themed token nine times in August 2020 for a total of $3,400 in Wrapped Ethereum. Only their August purchases have turned them into a crypto millionaire thanks to SHIB’s price climbing by over 94.278.239,8% last year to $0.00008094 at the time of writing, as reported by CoinMarketCap.
According to the data compiled by CoinGecko, the current market value of SHIB is $40.3 billion. Furthermore, SHIB has surpassed Dogecoin (DOGE) to become the most valuable cryptocurrency in the world after experiencing a massive spike in the value of 1,063% over the last 30 days.
SHIB VS DOGE
CoinGecko claims that the $DOGE coin has been completely flipped by the cryptocurrency $SHIB. It’s safe to say that this marks a turning point in the evolution of meme currencies. SHIB is now the ninth-largest company by market capitalization, whereas DOGE is the eleventh-largest company by market capitalization. As a result of DOGE’s reversal, some internet users have come up with a new internet joke calling Dogecoin “boomer meme money.”
The debut of Shiba Inu’s nonfungible token project, called “Shiboshi’s,” and a spike in futures open interest on numerous exchanges, including OKEx, FTX, and Huobi, among others, were reported on Thursday, adding to SHIB’s positive momentum. While the price of SHIB has risen rapidly in recent months, the price of DOGE has lagged, rising by just 18.5 percent in the preceding 30 days to reach $0.23 per coin. DOGE is an older meme currency.
